Gray Knight

Description of Gray Knight. Explanation.

Definition Gray Knight. Description.

Gray Knight is a potential acquirer who outbids a White Knight in an Hostile Takeover. Unlike a White Knight, a Gray Knight is not invited to acquire the company. But he is still seen as a better alternative than the hostile bidder (the Black Knight).

Compare with: Mergers and Acquisitions  |  Leveraged Buy-Out  |  Management Buy-out  |  Acquisition Integration Approaches

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End of description Gray Knight. An explanation.